On January 26, 2016, debt held by the public was $13.62 trillion or about 75% of the previous 12 months of GDP. Intragovernmental holdings stood at $5.34 trillion, giving a combined total gross national debt of $18.96 trillion or about 104% of the previous 12 months of GDP.
Launched in 1934 to help boost the housing market, the Federal Housing Administration (FHA) loan is still pretty much the same today. Itâs a government-backed loan that allows people to buy a moderately priced home with a down payment as low as 3.5 percent. The partnership between the FHA and HUD has helped many people since its inception, insuring over 34 million home mortgages and 47,205 multifamily project mortgages.
FHA Loans FHA mortgage loan types are insured by the government through mortgage insurance that is funded into the loan. First-time home buyers are ideal candidates for an FHA loan because the down payment requirements are minimal and FICO scores do not matter.